Tanzania - Apply for Representative Offices of Foreign Banks

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Procedure

Apply In-Person:

1. Application form for getting a Representative Offices of Foreign Banks is available in Capital Markets and Securities Authority contact link
2. Downloadable application form is available in the following link
3. Applicant must provide all information that is requested in the application form.
4. Applicant should carry both photocopies and originals of all the documents that are needed for completing this procedure.
5. Documents that are needed for completing this procedure are mentioned under the “Required Documents” section of this page.
6. Applicant should attach all required documents (both photocopies and originals, whichever is necessary) along with the application form before submitting them at the office.
7. Fee for this procedure can be paid as per authority’s request.
8. If all these procedures were followed properly by the applicant, the representative office of Foreign Banks license will be provided within a stipulated period of time.
9. If there is no information regarding the registration is provided, the applicant can visit the office to know status of their application.

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Required Documents

• Completed Application Form link
• Letter of authority from the foreign parent company
• Resolution from the parent company for setting up the branch in Tanzania.
• Comfort letter from the parent company to support the branch in Tanzania
• Certificate of Incorporation
• Memorandum and Articles of Association
• Audited bank statements and annual accounts of the parent company
• Bankers Certificate
• ID Proof – National ID/Driving License/Passport
• Address of proposed local offices in Tanzania
• Details of staff members of the bank
• Resolution of Bank account opening with the Banker
• Duly Signed Bank Account Opening from Bank of Tanzania contact link

Office Locations & Contacts

Bank of Tanzania,
Address: Mirambo St, Dar es Salaam, Tanzania
Contact No: (+255) 222 233 000
Contact link
Location link

Capital Markets and Securities Authority,
Address: 6th Floor,PPF Tower Ohio Street,
Garden Ave, Dar es Salaam, Tanzania
Contact No: (+255) 222 114 959
Contact link
Location link

Eligibility

• Any foreign banks that are willing to start their branch offices in Tanzania are eligible for this procedure.

Fees

• Fee for this procedure has to be paid as per authority’s request

Validity

• Representative Offices of Foreign Banks are valid forever.

Documents to Use

• Downloadable application form is available in the following link

Sample Documents

Please attach sample completed documents that would help other people.

Processing Time

• Processing time for this procedure will be mentioned by concerned authorities.

Related Videos

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.gIn the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

• Applicant should make sure to follow all instructions provided by concerned authorities.
• If any other documents are requested by concerned authorities during the time of application, it must be provided by the applicant.

Required Information

• Applicant Name
• Residential Address
• Tel. No
• Date of Birth
• Place of Birth
• No. Of years the applicant has resided in Tanzania
• Nationality
• Occupation for which the representative license is sought
• Full Name of Principal
• Full Address of the Business Premises
• Nature of the Principal
• Directorship in Companies
• A set of “Yes” or “No” questions
• Declaration
• Date of the application
• Signature

Need for the Document

• This registration is necessary for starting a foreign bank’s branch office in Tanzania.

Information which might help

Enter other informations which might help.

Other uses of the Document/Certificate

Please explain what are other uses of obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links

• Bank of Tanzania link
• Capital Market and Securities Authority link

Others

More information which might help people.